Saturday, 24 July, 2021

Govt calls for clearing tax by July 9


By A Staff Reporter
Kathmandu, June 17: The government has urged one and all to clear the due taxes by July 9.
The Inland Revenue Department (IRD) has issued a notice urging to submit the taxes and Value Added Tax (VAT) of Nepali month Chaitra of 2077 BS (mid-March to mid-April) and Baisakh of 2078 BS (mid-April to mid-May).
The IRD issued the notice a day after the court verdict that opened the way to collect taxes even during the lockdown period. A court decision last year had barred the government to collect taxes before 30 days after the lifting of lockdown or restrictions.
On Tuesday, the court had given its verdict in favour of the government and opened the way to raise taxes as per the provisions of the Financial Act.
According to the notice, the details of the tax deducted in advance, as per the VAT regulations, for the month of Baisakh should be submitted within the given date.
Likewise, the details of income tax and excise duty of the two months should be submitted before July 9 along with the details of tax deducted in advance and business details.
Charges for education service, telephone ownership and telecommunication service should also be submitted within the same deadline.
Earlier, private sector organisations like the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) had urged the businesses to pay the taxes if they had the capacity to do so.